Global polypropylene production will reach 124 million tons by 2032.
Global polypropylene production will reach 124 million tons by 2032.
In 2023, the global production of polypropylene amounted to 86 million tons. By 2032, output could grow to 124 million tons at an average annual rate of 4.2%. Such estimates are provided by Argus.
Valentin Kotlomin, Head of the Neftegazochemistry (Middle East, Central Asia and Asia-Pacific region) at Argus, predicts a decrease in capacity utilization to 73% in 2024-2025. This is due to the commissioning of new enterprises for 8 million tons. In the future, the workload may increase to 84%.
It is expected that new projects will be more competitive due to the use of more modern technologies. This will allow them to push some of the existing manufacturers away from key sales markets. As a result, outdated and low-power production facilities will be closed. The main impact of rationalization will fall on Northeast Asia and Western Europe.
Recall, according to Argus forecasts, 95 new polypropylene production plants will be launched in the next 10 years. China accounts for the bulk of the new capacity.